Aramit Limited, a building materials manufacturing company, plans to set up a new production unit at a cost of more than Tk 14 crore.
The company, which produces asbestos roofing materials, drainage pipes and ceiling insulating sheets, targets to add more than Tk 3 crore to its profit through the new plant.
As per the expansion plan, the additional turnover of Aramit Ltd will be around Tk 23 crore, company officials said.
As of June this year, the Chittagong-based listed company's half-yearly net turnover was Tk 23.08 crore and net profit was Tk 3.88 crore, according to Dhaka Stock Exchange website.
The new plant will start commercial production by June next year.
Ibrahim Khalil, executive director of Aramit Group, the parent company of Aramit Ltd, said presently the local demand for such building materials as asbestos roofing materials, drainage pipes and ceiling insulating sheets is around 70 to 80 lakh square metres per year.
“In our first unit, we produce around 30 lakh square metres materials a year and after completion of the new plant we will produce another 30 lakh square metres.”
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